First Fiduciary Investment Counsel Inc. Trims Stake in Novartis AG (NVS)

First Fiduciary Investment Counsel Inc. reduced its stake in shares of Novartis AG (NYSE:NVS) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 245,403 shares of the company’s stock after selling 3,535 shares during the quarter. Novartis AG accounts for 3.9% of First Fiduciary Investment Counsel Inc.’s holdings, making the stock its 8th biggest holding. First Fiduciary Investment Counsel Inc.’s holdings in Novartis AG were worth $20,484,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. lifted its position in shares of Novartis AG by 5.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 5,405 shares of the company’s stock worth $401,000 after buying an additional 285 shares during the last quarter. GFS Advisors LLC lifted its position in shares of Novartis AG by 6.5% during the 2nd quarter. GFS Advisors LLC now owns 21,314 shares of the company’s stock worth $1,779,000 after buying an additional 1,300 shares during the last quarter. Union Bankshares Corp lifted its position in shares of Novartis AG by 0.3% during the 2nd quarter. Union Bankshares Corp now owns 37,521 shares of the company’s stock worth $3,132,000 after buying an additional 99 shares during the last quarter. Mechanics Bank Trust Department bought a new stake in shares of Novartis AG during the 2nd quarter worth $389,000. Finally, ProVise Management Group LLC lifted its position in shares of Novartis AG by 12.2% during the 2nd quarter. ProVise Management Group LLC now owns 85,041 shares of the company’s stock worth $7,099,000 after buying an additional 9,227 shares during the last quarter. 10.92% of the stock is currently owned by institutional investors.

Novartis AG (NYSE:NVS) traded up 0.26% during trading on Friday, reaching $86.21. The company’s stock had a trading volume of 456,905 shares. The stock has a 50-day moving average price of $85.15 and a 200 day moving average price of $81.72. The company has a market cap of $201.98 billion, a PE ratio of 31.47 and a beta of 0.73. Novartis AG has a 52-week low of $66.93 and a 52-week high of $86.90.

Novartis AG (NYSE:NVS) last posted its quarterly earnings data on Tuesday, July 18th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The firm had revenue of $12.24 billion during the quarter, compared to analysts’ expectations of $12.20 billion. During the same period in the prior year, the business earned $1.23 EPS. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, analysts expect that Novartis AG will post $4.75 EPS for the current year.

Several analysts recently weighed in on NVS shares. Zacks Investment Research downgraded Novartis AG from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. BidaskClub upgraded Novartis AG from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Morgan Stanley upgraded Novartis AG from an “underweight” rating to an “overweight” rating in a research report on Wednesday, July 26th. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis AG in a research report on Monday, July 10th. Finally, Cowen and Company set a $77.00 price objective on Novartis AG and gave the stock a “hold” rating in a research report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. Novartis AG currently has a consensus rating of “Hold” and an average price target of $84.13.

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Novartis AG Profile

Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.

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Institutional Ownership by Quarter for Novartis AG (NYSE:NVS)

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